Riyadh, Paris Agree to Develop Al-Ula Province

Prince Badr bin Abdullah bin Farhan Al Saud, Governor of al-Ula, and Jean-Yves Le Drian, French Minister for Europe and Foreign Affairs sign agreement on Tuesday, April 10, 2018. Asharq Al-Awsat
Prince Badr bin Abdullah bin Farhan Al Saud, Governor of al-Ula, and Jean-Yves Le Drian, French Minister for Europe and Foreign Affairs sign agreement on Tuesday, April 10, 2018. Asharq Al-Awsat
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Riyadh, Paris Agree to Develop Al-Ula Province

Prince Badr bin Abdullah bin Farhan Al Saud, Governor of al-Ula, and Jean-Yves Le Drian, French Minister for Europe and Foreign Affairs sign agreement on Tuesday, April 10, 2018. Asharq Al-Awsat
Prince Badr bin Abdullah bin Farhan Al Saud, Governor of al-Ula, and Jean-Yves Le Drian, French Minister for Europe and Foreign Affairs sign agreement on Tuesday, April 10, 2018. Asharq Al-Awsat

The Royal Commission for al-Ula (RCU) confirmed that the signing of a cooperation agreement between the Kingdom and France to develop the historical and heritage sites in al-Ula province reflects Saudi Arabia's firm commitment to protect and promote the world heritage and its recognition of the importance of developing sustainable tourism and cultural heritage with partners from around the world.

It also reflects the Kingdom’s willingness to boost means of cooperation among all partners from different sectors through the implementation of various projects that achieve the desired objectives.
RCU explained in a statement on Tuesday that being one of the Kingdom’s primary cultural development projects, both nations will embark on a collaborative project to develop future visions for a long-term cultural, heritage and tourism development project for Al-Ula.

The aim is to enable local, regional and international visitors to experience the richness of Saudi Arabia’s cultural heritage, Arabian civilizations and local values, in line with Vision 2030, in order to positively support the creation of a thriving economy.

“France is a distinguished partner for its remarkable successes in the fields of tourism, hospitality, preservation of heritage, monuments and arts,” the statement pointed out.

In the presence of Crown Prince Mohammed bin Salman Al Saud, French President Emmanuel Macron and Gérard Mestrallet, Special Envoy of the French President for al-Ula, the intergovernmental agreement was signed by Prince Badr bin Abdullah bin Farhan Al Saud, Governor of al-Ula, and Jean-Yves Le Drian, French Minister for Europe and Foreign Affairs.

The terms include an agreement between the two governments to share and exchange knowledge on the development al-Ula province culturally and economically in addition to the preservation of culture and historical heritage and natural and human resources.

These objectives will be achieved through cooperation in areas of architectural planning, infrastructure and mobility, preservation of cultural and architectural heritage, cultural and artistic performances, promotion of the cultural identity of the province, development of the hospitality sector, promotion of sustainable tourism, preservation of the environment, strengthening of national competencies and capacities, transferring expertise and localization of technology.



Saudi Arabia Concludes Third IMFC Deputies Meeting

The Kingdom's chairmanship of the IMFC is a testament to its strong commitment to promoting multilateralism and reflects its leading role in supporting regional and global economic growth. - SPA
The Kingdom's chairmanship of the IMFC is a testament to its strong commitment to promoting multilateralism and reflects its leading role in supporting regional and global economic growth. - SPA
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Saudi Arabia Concludes Third IMFC Deputies Meeting

The Kingdom's chairmanship of the IMFC is a testament to its strong commitment to promoting multilateralism and reflects its leading role in supporting regional and global economic growth. - SPA
The Kingdom's chairmanship of the IMFC is a testament to its strong commitment to promoting multilateralism and reflects its leading role in supporting regional and global economic growth. - SPA

The Kingdom of Saudi Arabia concluded the third deputies meeting for the International Monetary Fund's (IMF) International Monetary and Financial Committee (IMFC), which was held under the Saudi chairmanship in Diriyah on April 6-7, and co-organized by the Ministry of Finance and the IMF.
During his opening speech, Minister of Finance Mohammed Aljadaan praised the efforts of the IMF's leadership and the members of the IMFC in guiding the IMF during challenging times. He also emphasized the importance of collaboration to ensure global financial stability and strong, inclusive economic growth. "The IMF has shown resilience by adapting to the ever-changing global landscape," Minister Aljadaan said.
In her opening speech, Managing Director of the International Monetary Fund Dr. Kristalina Georgieva expressed her gratitude for Saudi Arabia's ongoing and robust support for the IMF and the strong leadership of the IMFC, SPA reported.
"Amid significant global policy changes, the IMF's mission to foster macroeconomic and financial stability remains just as essential as it was 80 years ago. Our 191 member countries can rely on the IMF as a trusted advisor," she said.
The IMFC deputies discussed several topics during the high-level discussion sessions, including ways to enhance global financial stability and inclusive development. They addressed the challenges facing the global economy due to uncertainty in trade flows and its impact on capital in both advanced and developing economies. Emphasis was placed on the effect of high debt levels on investments in infrastructure and jobs and the opportunities and risks arising from technological and demographic shifts.
Additionally, they discussed the IMF's role in supporting countries through financial stability programs and coordinating regional financial arrangements.